Foresight Signs Agreement to Supply Autonomous Drone Technology in India with Revenue Potential of up to $2.5 Million by 2026
Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) has signed a commercial cooperation agreement with a leading Indian drone manufacturer that supplies the Indian Ministry of Defense. The agreement focuses on integrating Foresight's 3D perception technology into autonomous drone platforms, with potential revenue of up to $2.5 million by 2026 and up to $16 million by 2029.
The collaboration initially aims to enhance drone performance in challenging environments like dense smoke, poor lighting, and high temperatures, enabling human detection and real-time spatial positioning. The project will first target the Indian defense market before considering global expansion through manufacturing, marketing, and distribution efforts.
Foresight's solution uses stereoscopic long-wave infrared technology, specifically designed for robust performance in challenging conditions. This partnership represents a strategic expansion of Foresight's 3D perception technology across various autonomous vehicle markets.
Foresight Autonomous Holdings (Nasdaq e TASE: FRSX) ha firmato un accordo di cooperazione commerciale con un importante produttore indiano di droni che rifornisce il Ministero della Difesa indiano. L'accordo si concentra sull'integrazione della tecnologia di percezione 3D di Foresight nelle piattaforme di droni autonomi, con un potenziale guadagno di fino a 2,5 milioni di dollari entro il 2026 e fino a 16 milioni di dollari entro il 2029.
La collaborazione punta inizialmente a migliorare le prestazioni dei droni in ambienti impegnativi come fumi densi, scarsa illuminazione e alte temperature, consentendo la rilevazione umana e il posizionamento spaziale in tempo reale. Il progetto si concentrerà inizialmente sul mercato della difesa indiana prima di considerare un'espansione globale tramite sforzi di produzione, marketing e distribuzione.
La soluzione di Foresight utilizza tecnologia infrarossa stereoscopica a onde lunghe, progettata specificamente per prestazioni robuste in condizioni difficili. Questa partnership rappresenta un'espansione strategica della tecnologia di percezione 3D di Foresight in vari mercati di veicoli autonomi.
Foresight Autonomous Holdings (Nasdaq y TASE: FRSX) ha firmado un acuerdo de cooperación comercial con un importante fabricante indio de drones que suministra al Ministerio de Defensa de la India. El acuerdo se centra en la integración de la tecnología de percepción 3D de Foresight en plataformas de drones autónomos, con ingresos potenciales de hasta 2,5 millones de dólares para 2026 y hasta 16 millones de dólares para 2029.
La colaboración tiene como objetivo inicial mejorar el rendimiento de los drones en entornos desafiantes como humo denso, mala iluminación y altas temperaturas, lo que permite la detección humana y la posicionamiento espacial en tiempo real. El proyecto se enfocará primero en el mercado de defensa indio antes de considerar una expansión global a través de esfuerzos de fabricación, marketing y distribución.
La solución de Foresight utiliza tecnología infrarroja estereoscópica de onda larga, diseñada específicamente para un rendimiento robusto en condiciones desafiantes. Esta asociación representa una expansión estratégica de la tecnología de percepción 3D de Foresight en varios mercados de vehículos autónomos.
포리사이트 자율주행홀딩스 (나스닥 및 TASE: FRSX)는 인도 국방부에 드론을 공급하는 주요 인도 드론 제조업체와 상업 협력 계약을 체결했습니다. 이 협약은 포리사이트의 3D 인지 기술을 자율 드론 플랫폼에 통합하는 데 중점을 두고 있으며, 2026년까지 최대 250만 달러, 2029년까지 최대 1,600만 달러의 수익 가능성이 있습니다.
협력의 초점은 밀집한 연기, 열악한 조명 및 고온과 같은 도전적인 환경에서 드론 성능을 향상시키는 것으로, 인간 감지 및 실시간 공간 위치 지정을 가능하게 합니다. 이 프로젝트는 글로벌 확장을 고려하기 전에 인도 방위 시장에 처음으로 초점을 맞출 것입니다.
포리사이트의 솔루션은 어려운 조건에서 강력한 성능을 위해 특별히 설계된 스테레오 긴 파장 적외선 기술을 사용합니다. 이 파트너십은 다양한 자율주행 차량 시장에서 포리사이트의 3D 인지 기술의 전략적 확장을 나타냅니다.
Foresight Autonomous Holdings (Nasdaq et TASE : FRSX) a signé un accord de coopération commerciale avec un important fabricant indien de drones qui fournit le ministère indien de la Défense. L'accord porte sur l'intégration de la technologie de perception 3D de Foresight dans les plateformes de drones autonomes, avec un potentiel de revenus allant jusqu'à 2,5 millions de dollars d'ici 2026 et jusqu'à 16 millions de dollars d'ici 2029.
La collaboration vise d'abord à améliorer la performance des drones dans des environnements difficiles tels que la fumée dense, un éclairage faible et des températures élevées, permettant la détection humaine et le positionnement spatial en temps réel. Le projet ciblera d'abord le marché de la défense indien avant d'envisager une expansion mondiale par le biais d'efforts de fabrication, de marketing et de distribution.
La solution de Foresight utilise une technologie infrarouge stéréoscopique à longue onde, spécifiquement conçue pour une performance robuste dans des conditions difficiles. Ce partenariat représente une expansion stratégique de la technologie de perception 3D de Foresight sur divers marchés de véhicules autonomes.
Foresight Autonomous Holdings (Nasdaq und TASE: FRSX) hat eine Vereinbarung über eine kommerzielle Zusammenarbeit mit einem führenden indischen Drohnenhersteller unterzeichnet, der das indische Verteidigungsministerium beliefert. Die Vereinbarung konzentriert sich auf die Integration von Foresights 3D-Wahrnehmungstechnologie in autonome Drohnenplattformen, mit potenziellen Einnahmen von bis zu 2,5 Millionen US-Dollar bis 2026 und bis zu 16 Millionen US-Dollar bis 2029.
Die Zusammenarbeit zielt zunächst darauf ab, die Drohnenleistung in herausfordernden Umgebungen wie dichtem Rauch, schlechtem Licht und hohen Temperaturen zu verbessern, wodurch die menschliche Erkennung und die räumliche Positionierung in Echtzeit ermöglicht werden. Das Projekt wird zunächst auf den indischen Verteidigungsmärkte abzielen, bevor eine globale Expansion durch Produktions-, Marketing- und Vertriebsanstrengungen in Betracht gezogen wird.
Foresights Lösung nutzt stereoskopische Langwellensichttechnologie, die speziell für eine robuste Leistung unter schwierigen Bedingungen entwickelt wurde. Diese Partnerschaft stellt eine strategische Erweiterung von Foresights 3D-Wahrnehmungstechnologie in verschiedenen Märkten für autonome Fahrzeuge dar.
- Secured contract with potential revenue of up to $2.5M by 2026
- Long-term revenue potential of up to $16M by 2029
- Entry into Indian defense market through established manufacturer
- Expansion of technology application into drone/UAV market
- Revenue projections are potential figures, not guaranteed
- Initial market to Indian defense sector
Insights
The agreement marks a strategic entry into India's defense-tech sector, targeting a
The technical specifications of Foresight's stereoscopic long-wave infrared technology are particularly compelling for military applications. The ability to maintain performance in smoke, poor lighting and extreme temperatures addresses critical operational requirements for defense drones. Integration with real-time spatial positioning enhances tactical capabilities significantly.
For a micro-cap company (
The deal's structure reveals careful financial planning with significant upside potential. The
Key financial implications include:
- Potential revenue acceleration post-2026 as the project moves from development to commercial deployment
- Expanded market opportunities through the planned global distribution phase
- Reduced development costs through partnership with an established manufacturer
The cooperation, with a renowned supplier of the Indian Ministry of Defense, entails development and integration of Foresight’s 3D perception solution into autonomous drones. The five-year collaboration is projected to generate potential revenue up to $16 million by 2029.
Ness Ziona, Israel, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in three-dimensional (“3D”) perception systems, announced the signing of a commercial cooperation agreement with a prominent Indian drone manufacturer, that is a supplier of the Indian Ministry of Defense, to integrate its 3D perception technology into the manufacturer's autonomous drone platforms, with a total commercial potential reaching up to
The agreement aims to enable autonomous drone and unmanned aerial vehicle (“UAV”) technology by integrating Foresight’s cutting-edge 3D perception solutions into the drone manufacturer's autonomous systems. Initially, this collaboration will focus on improving drone performance in challenging environments, such as dense smoke, poor lighting and high temperatures. The drones will be able to detect people in these conditions while providing real-time information about the drones’ spatial positioning. The initial phase of the collaboration will focus on developing advanced solutions for the Indian defense market. At a later stage, the parties will consider manufacturing, marketing, and distribution efforts, initially targeting the Republic of India before expanding globally.
Foresight’s 3D perception solution, using stereoscopic long-wave infrared technology, is particularly well-suited for drone applications, with the ability to maintain robust performance required for the detection of humans in challenging environments, including dense smoke conditions caused by fires. This collaboration represents a significant advancement in Foresight's strategy to expand its 3D perception technology across diverse autonomous vehicle markets, including drones, unmanned aerial vehicles, and autonomous ground vehicles.
“We are excited to collaborate with one of India's foremost autonomous drone companies," said Mr. Oren Bar-On, Chief Executive Officer of Foresight Changzhou Automotive Ltd. "Our stereoscopic long-wave infrared technology offers unparalleled 3D perception capabilities, which, when combined with the drone manufacturer's expertise in drone manufacturing, will result in solutions that are not just technologically advanced, but also practical and impactful. This agreement demonstrates the adaptability of our ScaleCam™ technology across various autonomous platforms, from automotive to aerial applications,” Mr. Bar-On concluded.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of automatic calibration and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on “X” (formerly Twitter), or join Foresight Automotive on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses potential revenue under the agreement and the timing thereof, advantages and benefits of Foresight’s solution. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission ("SEC") on March 27, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
917-607-8654
FAQ
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